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Indian e-commerce industry to grow to $200 billion by 2026

 

Indian e commerce industry to grow to 200 billion by 2026

 

Indian e-commerce industry is expected to grow to $200 billion by 2026 recording double digits growth YoY, says a Financial Express report. This growth has primarily been driven in very few categories such as fashion, consumer electronics, mobile phones, books amongst the others. COVID-19 situation has forced FMCG players to step out of their comfort zones and adapt their product portfolio/mix in sync with the sudden change in consumer purchase behavior. The situation has merely fuelled the growth of e-commerce with many large players like Swiggy, Facebook, Reliance Jio, entering this space.

The entry of these players is likely to change the retail landscape as they will pump millions of dollars to build the necessary infrastructure and bring in a structure that will drive high level of efficiency in the retail operations. This will only drive stickiness towards this sector and bring in droves of consumers who have started embracing digital mode of shopping- be it through a shopping app, e-commerce website or a messaging app.

New robust hyper-local platforms are also likely to emerge out in micro-ecommerce space to connect and deliver value to all these FMCG players. These platforms will facilitate smooth/efficient flow of supplies and financial resources to these kirana stores and end-consumers.

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